Tullow Oil said it has received insurance cover for its floating, production, storage and offloading vessel (FPSO) Kwame Nkrumah.
It comes after the failure of a turret bearing earlier this year.
In a statement, the company said the hull and machinery policy, which is procured on behalf of the joint venture, covers relevant operating and capital costs associated with both current operating procedures at the FPSO and the long-term solution.
Tullow Oil is the the operator of the Jubilee field.
The company said it will now work closely with adjusters and reinsurers to establish an efficient payments schedule as remedial work continues.
Tullow is also continuing to work with its business interruption reinsurers on confirming cover for loss of production and revenue caused by the turret bearing failure.